Last Sold Price
78 beds72 baths36,696 sqft$112/sqft
4175 W Ridge Rd, Erie, PA 16506

Description

Rare opportunity to own a 45-unit townhouse complex in highly sought-after Millcreek Township & School District. This well-maintained property includes 33 townhouses, each with 2 bedrooms, full basements, & 1.5 baths in 27 units. Additionally, there are 12 apartments, offering a diverse mix of rental options. Recent improvements include new roofs & gutters (2017), all windows replaced, & ample parking. On-site laundry adds convenience. Current rents for townhouses range from $900-$1000, but based...Rare opportunity to own a 45-unit townhouse complex in highly sought-after Millcreek Township & School District. This well-maintained property includes 33 townhouses, each with 2 bedrooms, full basements, & 1.5 baths in 27 units. Additionally, there are 12 apartments, offering a diverse mix of rental options. Recent improvements include new roofs & gutters (2017), all windows replaced, & ample parking. On-site laundry adds convenience. Current rents for townhouses range from $900-$1000, but based on a market analysis, significant rent growth potential exists—townhouses can easily rent for $1100-$1200, & apartments for $800. With each unit individually metered for gas, electric, and water (tenants pay utilities), the owner only covers sewer & garbage. This property offers incredible cash flow potential & can achieve a 9.62%+ CAP rate based on projected APOD. Prime location close to all amenities makes this a perfect investment! Located by LECOM adds extra premium rent possibilities!
LISTING CLOSED: 05/07/2025 12:00 AM

  1. Listed by Jake Scheloske • Agresti Real Estate
    P: (814)-449-7973 C: (814)-449-7973 jake@tryagresti.com

Property Details for 4175 West Ridge Road

Status
MLS #
181424
Days on Market
20
Taxes
$55,986 / year
HOA Fees
-
Condo/Co-op Fees
-
Property Type
MLS Type
Residential Income / Multi Family
Year Built
1985
Lot Size
2.48 AC / 108,028 SF
Architectural Style
Two Story
Zoning Description
See Remarks

Location

Listing Courtesy of Agresti Real Estate

Sold By Agresti Real Estate

Add your commute

Building Information for 4175 West Ridge Road

Stories2Residences3Year Built1985Building Size-Lot Size2.48 AC / 108,028 SF

Payment Calculator

$25,505 per month

30 year fixed, 6.55% Interest

Principal and Interest

$20,840

Property Taxes

$4,666

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Know your buying power with a preapproval and custom rate in minutes

Rocket Mortgage1

Property Information for 4175 West Ridge Road

Summary
Location and General Information
  • Directions: W. Ridge Rd. (Rt. 20) between Mc Kee and Colonial, across from Barber National Institute
  • Latitude: 42.077324
  • Longitude: -80.168781
  • MLS Area Major: 6 - Millcreek S of W26
  • Township: Millcreek Township
Taxes and HOA
  • Parcel Number: 33-055-247.0-002.00
  • Tax Annual Amount: $55,986.00
  • Tax Assessed Value: $2,000,000
  • Tax Year: 2025
School Information
  • Elementary School District: Millcreek
  • High School District: Millcreek
  • Middle or Junior School District: Millcreek
Parking
  • Parking Total: 90.0
Virtual Tour
Property
Lot Information
  • Lot Features: Cleared, Level
  • Lot Size Acres: 2.48
  • Lot Size Area: 2.48
  • Lot Size Dimensions: 0x0x0x0
  • Lot Size Units: Acres
  • Road Frontage Type: Private Road
  • Road Surface Type: Paved
Property and Assessments
  • Building Area Total: 36696.0
  • Living Area: 36696.0
  • Living Area Source: Assessor
  • Property Condition: Good Condition, Resale
  • Year Built: 1985
  • Year Built Details: Actual
Building Features
  • Construction Materials: Brick, Vinyl Siding
  • Levels: Two
Utilities
  • Sewer: Public Sewer
  • Water Source: Public
Interior and Exterior Features
Interior Features
  • Total Bathrooms: 72
  • Total Bedrooms: 78
  • Cooling: Central Air
  • Has Cooling: Yes
  • Heating: Forced Air, Gas
  • Has Heating: Yes
Exterior Features
  • Roof: Composition
  • Stories: 2
Multi Family
Multi Family Information
  • Number of Units In Community: 45
  • Total Number of Units: 3
Income & Expenses
  • Gross Income: $476,868.00
  • Insurance Expense: $13,306.00
  • Maintenance Expense: $23,188.00
  • Manager Expense: $23,188.00
  • Net Operating Income: $322,154.00
  • Other Expense: $11,760.00
  • Professional Management Expense: $23,188.00
  • Water Sewer Expense: $16,000.00
Unit Information
Unit 1
  • Actual Rent: $800.00
  • Actual Rent Range: 800
  • Total Bathrooms: 1
  • Total Bedrooms: 1
  • Description: Laundry,Range/Oven,Refrigerator
  • Occupant Type: Occupied
Unit 2
  • Actual Rent: $1,150.00
  • Actual Rent Range: 1150
  • Total Bathrooms: 1
  • Total Bedrooms: 2
  • Description: Basement Tenant Use,Laundry,Range/Oven,Refrigerator
  • Occupant Type: Occupied
Unit 3
  • Actual Rent: $1,150.00
  • Actual Rent Range: 1150
  • Total Bathrooms: 1
  • Total Bedrooms: 2
  • Description: Basement Tenant Use,Dishwasher,Laundry,Range/Oven,Refrigerator
  • Occupant Type: Occupied
Rental
Rent Information
  • Security Deposit: $50,000.00

Property History for 4175 West Ridge Road

DateEvent & SourcePriceAppreciation
May 7, 2025

Sold (Public Record)

Public Record #1557684793

$3,800,000

+7.7% / yr

May 7, 2025

Sold

Greater Erie Board of REALTORS #181424

$4,100,000
Feb 27, 2025

Pending

Greater Erie Board of REALTORS #181424

DateEvent & SourcePrice
05/07/2025

Sold (Public Record)

Public Record #1557684793

$3,800,000

+7.7% / yr

05/07/2025

Sold

Greater Erie Board of REALTORS #181424

$4,100,000
02/27/2025

Pending

Greater Erie Board of REALTORS #181424

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 4175 West Ridge Road

Taxable ValueLand$486,500Additions$1,513,500Total$2,000,000
Tax Record2026$56,970 ($4,748 / month)
Home Facts
Total Finished SqFt8,064 SqFtAbove Grade Finished SqFt8,064 SqFtUnfinished Basement SqFt2,688 SqFtStories3Lot Size108,116 SqFtStyleMulti-Family Res (5+ Units)Year Built1977Year Renovated1977ZoningBBCountyERIEAPN33-055-247.0-002.00

Schools near 4175 West Ridge Road

This home is within Millcreek Township School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Rating
School
Distance
Asbury Elementary School
PublicPK to 5

Westlake Middle School
Public6 to 8

McDowell High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

New listings in 16506

$238,000 | 2506 Loveland Avenue, Erie, PA 16506
1/39

$238,000

2
Bedrooms
1,276
Square Feet
0.26
Acres
$279,900 | 3646 Fountain Way, Erie, PA 16506
1/28

$279,900

3
Bedrooms
1,624
Square Feet
0.23
Acres
$295,000 | 2734 West 34th Street, Erie, PA 16506
1/23

$295,000

3
Bedrooms
1,092
Square Feet
0.20
Acres
$339,900 | 5213 La Rae Drive, Erie, PA 16506
1/46

$339,900

3
Bedrooms
1,454
Square Feet
0.24
Acres
$239,900 | 4215 Concord Road, Erie, PA 16506
1/14

$239,900

3
Bedrooms
1,764
Square Feet
0.62
Acres
front view of a house with a yard
1/17

$105,900

2
Bedrooms
1,456
Square Feet
Unavailable
Acres
a aerial view of a house with yard and outdoor seating
1/17

$164,900

3
Bedrooms
1,080
Square Feet
0.96
Acres
$94,900 | 2303 Border Drive, Erie, PA 16506
1/27

$94,900

3
Bedrooms
1,248
Square Feet
Unavailable
Acres
$229,900 | 3527 Kristie Drive, Erie, PA 16506
1/41

$229,900

3
Bedrooms
1,320
Square Feet
0.17
Acres

Nearby home values

AddressSold priceBedsBathsSqftLot (Sqft)
This home: 4175 West Ridge Road, Erie, PA 16506
$4,100,000
78
72
36,696
108,028
$272,000
10
4
5,594
10,454
$122,500
3
960
10,890
$325,000
46,174
46,173
$102,000
3
1,008
6,969
3
2
2,112
12,001

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Agresti Real Estate

IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.